The data shows that the USDT value transferred on the Ethereum chain is currently 2-3 times that of ETH.

According to Bitcoinist, USDT's trading activity reached a record level as arbitrage demand and capital flows continued to increase significantly. Coin Metrics data shows that the USDT value transferred on the Ethereum chain is currently 2-3 times that of ETH. In contrast, the ratio between USDT and Bitcoin never exceeds 0.4.